Ferguson Wellman Capital Management Inc. Sold 414 Shares of Broadcom Inc (AVGO)

Ferguson Wellman Capital Management Inc. Sold 414 Shares of Broadcom Inc (AVGO)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,187 shares of the semiconductor manufacturer’s stock after selling 414 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Broadcom were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Broadcom by 6.6% during the third quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Vanguard Group Inc lifted its holdings in shares of Broadcom by 6.6% during the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after buying an additional 2,094,847 shares in the last quarter. Capital International Investors lifted its holdings in shares of Broadcom by 504.1% during the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after buying an additional 22,955,578 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Broadcom by 0.8% during the third quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock worth $6,397,772,000 after buying an additional 209,280 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Broadcom by 16.3% during the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after buying an additional 3,608,395 shares in the last quarter. Institutional investors own 86.42% of the company’s stock.

AVGO has been the subject of a number of research reports. BidaskClub downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. JPMorgan Chase & Co. initiated coverage on Broadcom in a report on Thursday, November 8th. They set an “overweight” rating and a $325.00 target price for the company. began coverage on Broadcom in a report on Thursday, November 8th. They set a “buy” rating and a $310.00 target price for the company. Deutsche Bank reaffirmed a “buy” rating and issued a $310.00 price target on shares of Broadcom in a research note on Thursday, November 8th. Finally, ValuEngine raised Broadcom from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Nine investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $288.93.

AVGO traded up $4.97 during trading on Friday, hitting $274.06. The company’s stock had a trading volume of 2,362,676 shares, compared to its average volume of 2,726,462. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $280.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90. The firm has a market cap of $111.62 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.24 and a beta of 0.72.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $4.59 earnings per share. Broadcom’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts predict that Broadcom Inc will post 18.59 EPS for the current fiscal year.

In related news, CFO Thomas H. Krause sold 22,500 shares of the stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $257.08, for a total value of $5,784,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. Insiders have sold 99,723 shares of company stock worth $24,926,174 over the last ninety days. 3.30% of the stock is owned by insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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